London-listed Oracle Power, via its joint venture Oracle Energy, has leased 7,000 acres of land in Pakistan, where it proposes to build what could be the country’s first green hydrogen project.
Oracle’s partner, His Highness Sheikh Ahmed Dalmook Al Maktoum, who owns 70% of Oracle Energy through Kaheel Energy FZE, is an active investor and developer of a number of power generation projects across the Middle East, Asia and Africa.
“Oracle Energy’s Green Hydrogen Project would be Pakistan’s first producer of green hydrogen, with an initial capacity to produce 55,000 tonnes annually, and be one of the largest hydrogen projects in the Middle East and Asia,” claimed Oracle in an announcement Monday.
Oracle Energy reported it has paid an initial consideration of US$1,830,000 for the first 10 years for the lease acquisition, which is for a minimum of 30 years. Further payments are made for every further ten year period, with the next payments due in 2033 and 2043, and these would double per every 10 years.
The project site in Sindh is within a strategic region in southern Pakistan, located within the Gharo-Jhimpir wind corridor, where over 1 GW of renewable power has been constructed and commissioned, of which 350 MW commissioned power lies within a 10 km radius of the project, said Oracle.
Beyond access to Pakistan’s national grid, the project has immediate proximity to existing infrastructure, including access to water in the form of Karachi’s largest freshwater reservoir, and established rail and road infrastructure, which connect to Pakistan’s two largest ports – Karachi Port and Port Qasim.
Oracle Energy’s green hydrogen project is targeting annual production of 55,000 tonnes of green hydrogen – equivalent to the production of 150,000 kg of hydrogen per day. Oracle Energy intends to supply its production to local industries supporting manufacturing, fertiliser production, gas utilities, transport and power generation, and also to export to European and Asian markets.
Oracle plans the development of solar and wind power facilities with a combined output of 1.2 GW hybrid power from proposed capacity 700MW solar and 500MW wind plants, along with a battery storage park of up to 450 MW, to ensure the continuous production of hydrogen throughout the year. Application for the renewable hybrid plant to be connected to the grid would be made, fulfilling two specific objectives: for the sale/exchange of surplus/shortfall renewable energy into the grid, and the supply of energy to power Oracle Energy’s green hydrogen and green ammonia production facility.
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